Hi,
No, you cannot. Retail version Office canot install with Volume version Office at the same PC. You can refer to this support article, as the article said "For Office 365, Microsoft 365, Office LTSC 2021, and Office 2019 products, all products installed on the computer must be using the same update channel."
In your case, the Office Home & Business 2021 Retail update channel is Microsoft 365 Apps update channel and the three primary update channels are: Current Channel, Monthly Enterprise Channel, Semi-Annual Enterprise Channel
The Visio Professional 2021 LTSC update channel is: “PerpetualVL2021” and this is the only update channel available.
Hope the information is helpful.
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